Financial pressure and stagnant wages have left workers eager for holiday pay more than ever before, but companies are facing their own struggles as they seek to prevent major losses next year.
However, a new survey from ResumeBuilder.com shows that 50% of U.S. workers expect some sort of holiday gift, while 44% will put in less effort and 20% may quit if they do not receive such a bonus.
The top four holiday gifts employees preferred included:
- Cash bonus
- Gift card
- Non-cash gift
- Company swag
High costs of living have driven employees to reprioritize in recent months, with the majority now valuing financial security over other workplace benefits. The survey supports this too, with 83% of respondents saying they feel entitled to a raise by the beginning of next year.
According to the survey, 44% of employees say a holiday bonus’ monetary value should range between $101 and $500, while 23% say it should be around $501 and $1000.
“Workers who have historically received a holiday bonus will expect one of the same or more value this year,” said Stacie Haller, Chief Career Advisor at ResumeBuilder.com “It may be a part of their planned compensation, and if it’s taken away, companies can expect many of their workers to respond negatively.”